Congressional Candidate Decries Passage of Tax Reform Bill That Benefits the Wealthiest of Americans, Adds $1 Trillion in Debt
ASHBURN – Deep Sran, Democratic candidate for Virginia's 10th Congressional District, released the following statement today in response to news that Senate Republicans passed their tax reform plan.
"As a small business owner and taxpayer, I support the idea of a simpler, fairer tax system and debt-neutral tax reform plan. Unfortunately that is not what the Senate passed. This one-party plan is opposed by half of Americans, which is what happens when only half of our representatives are part of the process.
With the passage of this bill, the Republican Party delivered on campaign promises that reward big campaign donors, cutting taxes for the wealthiest among us and big corporations, and sending the bill straight to our children.
Corporations only provide about 10 percent of federal revenue as it is, and research shows that only a small portion of corporate tax savings from this bill would go to new investment or increased wages. Most would end up in shareholders’ or executives’ pockets. In short, there is no evidence this tax reform plan will spur real increases in economic activity or wage growth.
The Joint Committee on Taxation, a nonpartisan group of experts, released their analysis on the bill earlier this week, and found that this bill would add $1 trillion in debt. Rather than take time to address this fatal flaw, Republican senators pushed ahead without hearings, public debate, or concern for the economic future of this country, even handwriting last minute changes into the margins. This is not how good policy is made. This is not how problems are solved.
These rushed and one-sided tax cuts fail to benefit those who need it most and demonstrate a fiscal irresponsibility rarely seen in this country. Any senator voting for this bill should be held to account for this decision.”
Deep is a lifelong educator and innovator who has spent the majority of his career on his true passion - teaching our children. He founded Loudoun School for the Gifted, which empowers its students to dream big and to be ready for whatever the future holds. He also co-founded Actively Learn, an education technology company, to create a literacy platform which helps promote better thinking as students read for class. In his school, his company, and his community, Deep has worked to ensure that our children - the future leaders of America - have access to the resources and skills they need to solve the problems of tomorrow.